Clear Cooperation: A lawsuit looms as the conversation continues
Mauricio Umansky pledges a court fight against NAR, while Compass and Redfin CEOs take opposite sides on the policy.
September 17, 2024
Stephanie Reid-Simons
Senior Vice President
Stephanie followed her grandpa's path into journalism, reporting and editing her way into leadership roles with news teams covering everything from courts and crime to entertainment, sports and business. At Amazon and Zillow, she used her strategic storytelling skills to earn the attention of millions of people, establish a content marketing practice and help build a creative agency.
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- August 17 is about more than just industry rule changesSaturday is the first day consumers can get details about their settlement options — and is a critical day for agents who want to be covered by NAR’s deal.August 12, 2024
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- Global software company makes unexpected play for REcoloradoMRI offered to buy the nation’s 16th-largest MLS — then upped its offer — and wants association members to consider it at a July 29 meeting about the sale.Updated July 26, 2024
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- Economists on 2024 so far: ‘The year of the head fake’So much for that housing market recovery everyone was expecting. Builders and boomers could provide bright spots, but what about the NAR settlement?July 12, 2024
- Association leaders ‘emphatically deny’ profiting from MLS saleA new statement takes aim at “misinformation and concern” surrounding the proposed sale of REcolorado and provides details on the buyer and his intentions.July 9, 2024
- Facing scrutiny, CoStar alters high-profile Homes.com adsAd watchdog sides with Realtor.com challenges to Homes.com traffic claims — the latest twist in the hard-fought battle for the No. 2 spot in home search.Updated July 10, 2024
- Agents ‘have to show up’ in post-settlement worldHard truths emerged during a talk about real estate’s future: Consumers expect more, and agents will have to “work harder for less money” to prove their value.July 3, 2024
- REcolorado confirms interim CEO, new boardNew FAQs from the MLS and from its current owners, DMAR and SMDRA, shed light on user fees post-sale, but the timing and price of the deal remain undisclosed.July 1, 2024
- 3 top takeaways from NAR’s meeting with the DOJThe Department of Justice is keeping a sharp eye on the industry as the August 17 deadline for settlement-mandated practice changes draws closer.June 29, 2024
- REcolorado board removed as buyer is unveiledThe Realtor association owners of the MLS said the decision was made “in the best interests of our collective membership” following confidentiality violations.Updated June 29, 2024
- Sale of leading MLS ‘may bring added uncertainty’A statement from REcolorado says its potential sale to a private equity firm is not the best way to separate MLSs from Realtor association ownership.June 27, 2024
- ‘Ongoing antitrust litigation’ prompted deal to sell leading MLSAssociation owners of REcolorado say now is “the right time to sell” and that decoupling MLSs and associations can provide protections and improve operations.June 25, 2024
- Deal in place to sell REcolorado to private equity firmThe associations that own the 16th-largest MLS surprised its leaders with a deal that “scared the absolute hell out of us,” REcolorado’s vice chair said.June 24, 2024
- In NYC, brokers are fighting for 10-15%, not 6%New York is one of only two cities where landlords can hire brokers and require renters to pay them. This may be changing — but not if the industry has its way.June 22, 2024
- DOJ says REX deserves a do-over in Zillow/NAR caseCan NAR’s optional rules still add up to anticompetitive behavior? Yes, the Department of Justice says in a brief filed June 20 in the case of REX vs. Zillow.Updated June 21, 2024
- NAR employee files discrimination suitA former project manager said she was subjected to sexual harassment and retaliation in a lawsuit filed June 18 in Illinois District Court.June 20, 2024
- Who opted in to the NAR settlement? ‘It’s all over the place’The path is more clear for MLSs than brokerages, according to a top industry lawyer. The National Association of Realtors, meanwhile, had no comment.Updated June 20, 2024
- New initiative focuses on agents for underserved buyersRealtor.com is highlighting the 111 things independent buyer representation does for Black, Hispanic, Asian American, LGBTQ+, veteran and first-time buyers.June 18, 2024
- NAR ‘stands by’ Pride post as it cuts all comments“This was more than simply a social media post,” said the LGBTQ+ Real Estate Alliance president, calling for “proactive actions” and ethics code enforcement.June 14, 2024
- Roof AI CEO on ChatGPT — and the need for guardrailsRoof Pro launched its GPT integration this week after the company took the time to establish safeguards necessary for the real estate industry.June 12, 2024
- The state of mortgage rates depends on which state you're inA new survey of lenders reveals a 38 basis point difference between mortgage rates by state, which can mean hundreds of dollars a year for borrowers.June 11, 2024
- ‘Frustration’ a theme as homebuyer sentiment cratersFannie Mae’s sentiment index hit a new low in May, with only 14% saying now is a good time to buy a home, but sales activity is expected to increase.June 7, 2024
- Square footage has gotten awfully expensiveA new report from Realtor.com reveals a massive increase in price per square foot over the past five years.June 5, 2024
- Longtime CEO steps down at MoxiWorksYork Baur will remain on the board of directors, while Eric Elfman, a tech leader from outside the real estate industry, moves into the top role.June 3, 2024
- The party is not over for NAR — ‘at least not yet’A new report describes the political might of NAR, its lavish efforts to protect it, and risks to its future posed by the government — and its own actions.May 21, 2024
- A closer look at NorthstarMLS’s path through a tricky yearMinnesota’s largest multiple listing service embraces its “broker-centric, tech-forward focus” as it works through rules changes and pursues collaboration.May 20, 2024
- Keller Williams cancels plan to cut profit share for ex-agentsPresident and CEO Mark Willis called the move “unprecedented," and said the vote by the company’s agent-led IALC passed by an “overwhelming majority.”Updated May 17, 2024
- How to lead when you’re moving out of a leadership roleStepping back from a top position can be tough, but great leaders set up their successors for success. A T3 Sixty talent expert explains how.May 11, 2024
- ‘Standing still is not enough’ says Anywhere’s Sue YannacconeYou may not have every answer — and legal threats still loom — but you must keep moving forward with consumers in mind, the industry leader advised her peers.May 5, 2024
- ‘Change will absolutely happen’ — so build something newReal estate has gone through massive changes over the past 50 years, says industry icon Stefan Swanepoel, but it’s time to focus on the future.April 23, 2024
- Real estate’s AI era is just starting — here’s what you need to doIt’s not too late to get on board, but “you have less than a year to figure it out,” AI expert Allie K. Miller told execs at the T3 Leadership Summit.April 23, 2024
- CoStar acquires Matterport — and all its dataThe move gives the Homes.com parent company access to a massive amount of digital property information as it looks to strengthen its residential presence.April 22, 2024
- T3 Sixty suspends release of real estate brokerage rankingThe company made the move after hearing from “numerous” privately owned companies involved in high-stakes lawsuits over commissions.March 28, 2024
- ‘We remain vigilant’ KW says as it unpacks NAR settlementFrom buyer agreements to non-MLS places where cooperative compensation can appear, here’s what Keller Williams is telling leaders and agents about the deal.March 18, 2024
- Marc King departs KW president role amid layoffsCEO Mark Willis adds “president” to his title and confirms that about 30 people have been let go from the company.March 11, 2024
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- Nick Bailey out in RE/MAX leadership shakeupAmy Lessinger, former SVP of Region Development, takes over as president, while two other execs receive promotions.Updated February 22, 2024
- NAR shares ‘real story’ of leadership, strategic shiftsNew messages from Interim CEO Nykia Wright and President Kevin Sears lay out changes to “presidential initiatives,” NAR’s Leadership Team and culture work.February 19, 2024
- NAR called ‘arrogant’ as it makes national news againA Wall Street Journal story portrays the National Association of Realtors as inflexible in the face of legal challenges to the industry’s commission structure.February 16, 2024
- HAR leaders on earning trust and competing with Zillow“We’re trying to be an example of what an association can do,” says René Galvan, who will take over for Bob Hale as CEO in 2026.February 2, 2024
- Keller Williams reaches $70M settlement in commissions casesThe deal, which leaves just NAR and HomeServices of America as defendants in the Sitzer/Burnett and Moehrl cases, releases KW from all sell-side litigation.Updated February 1, 2024
- Clear Cooperation suit ends without any rule changesNAR says ThePLS.com, which sued the association and three major MLSs, is dismissing the case. But the door is open for it to refile this year.January 26, 2024
- Major MLSs reach settlement in lawsuit over NAR policyCRMLS, Bright MLS and MRED have reached an agreement with ThePLS.com over Clear Cooperation rules, leaving NAR as the only remaining defendant.January 25, 2024
- NAR alternative moves up its launchAREA, an initiative spearheaded by Mauricio Umansky and Jason Haber, aims to create “something totally new” for agents and others dissatisfied with NAR.Updated January 23, 2024
- More women than ever earn spots in real estate power rankingFor the second year in a row, the Swanepoel Power 200 designated Sue Yannaccone, Anywhere Brands president and CEO, as the most powerful female leader.January 10, 2024
- NAR President Tracy Kasper, facing blackmail threat, steps downKasper had been in the role for just over four months following the resignation of former president Kenny Parcell. Kevin Sears is taking over as president.Updated January 8, 2024
- The Ten: MLS leaders bond over industry shifts — and Sammy Hagar?Art Carter and Brian Donnellan, CEOs of the nation’s largest MLSs, are pals as well as colleagues, walking the talk of collaboration in challenging times.December 19, 2023
- Redfin expands (and renames) its new agent-pay programSan Diego and Orange County join San Francisco and LA as Redfin Next launch cities on Jan. 1. The program is designed to “remove the ceiling” from compensation.December 12, 2023
- Lawmakers target hedge-fund homebuyersThe bill, which would give large-scale corporate investors 10 years to unload the homes they own or face massive penalties, faces long odds.December 8, 2023
- Meet The Ten who defined 2023Real Estate News has selected the top newsmakers in a year shaped by trials — of all kinds — and resilience in the face of epic challenges and opportunities.Updated January 2, 2024
- Hearts, minds and home: Moving topics from NAR NXTConference sessions provided moments of laughter as well as insights into the future of the association — and the country — in challenging times.November 17, 2023
- The AI hype is real: Here’s what real estate pros need to knowThink of AI as an “infinite time saver” that can supercharge your business and free up your time. It’s not going to replace you. In fact, it needs you.October 28, 2023
- Disruption expert shares recipe for success in tough timesFrom lawsuits to AI, “the more uncertain the future, the more options you need,” innovation professor Luke Williams told attendees at the T3 Tech Summit.October 24, 2023
- NAR might have more paths to victory in commissions casesDefendants presented opening arguments during week one of the Sitzer/Burnett trial. An industry lawyer sees two additional ways they might prevail in court.October 21, 2023
- Mixed perspectives on NAR following Redfin’s exitZillow, Windermere affirm their commitment to the association, while a top brokerage leader calls out “dysfunctionality” and a disconnect from member needs.October 13, 2023
- Anywhere, RE/MAX drop buyer commission and NAR requirementsThe brokerage giants have agreed to significant policy changes as part of their settlement agreements in the Sitzer/Burnett and Moehrl commissions cases.Updated October 6, 2023
- eXp launches app for off-market listingsThe company says eXp Exclusives is not meant to replace MLSs, but it provides a way to work with sellers who want to keep their listings private.October 4, 2023
- Gurtej Sodhi, CIO at Crye-Leike Real Estate, has diedA respected tech leader, Sodhi spent nearly 30 years at Crye-Leike and held numerous roles on national boards.October 3, 2023
- MV Realty files for bankruptcy amid legal turmoilThe brokerage, which offered homeowners cash in exchange for a 40-year right-to-list agreement, has been bogged down by lawsuits and investigations.September 22, 2023
- Zillow Gone Wild goes HGTVThe Instagram fave will become a “property event series” on HGTV in 2024, plus The Agency founder Mauricio Umansky will join Dancing with the Stars.September 14, 2023
- NAR stands with CEO amid turmoilNAR leaders affirmed Bob Goldberg as CEO during an emergency meeting days after the association’s president resigned following sexual harassment allegations.August 31, 2023
- NAR president resigns in the wake of sexual harassment allegationsJust two days after the New York Times published claims of harassment, retaliation and intimidation at the association, Kenny Parcell has stepped down.Updated August 28, 2023
- Agent launches campaign calling for change at NARAllegations of sexual harassment at NAR, followed by "very emotional" calls from association employees, sparked a new initiative now gaining steam.Updated August 30, 2023
- A rallying cry as lawsuits over agent pay 'hit a critical point'T3 Sixty has sent an open letter to the real estate industry, urging everyone to take action now to get ahead of potential rulings in commissions lawsuits.July 12, 2023
- 'Mounting pressure' on industry as MLS agrees to settle commission suitMLS PIN has agreed to pay $3 million and stop requiring sellers to offer buyer-broker compensation, a practice at the core of two other major lawsuits.Updated July 11, 2023
- NAR CEO to retire in 2024; search for replacement underwayBob Goldberg announced that he will leave the role with the National Association of Realtors when his current contract ends on Dec. 31, 2024.Updated June 28, 2023
- Real Estate News columnists bring home top industry awardsLeading economist Dr. Paul Bishop and respected broker J. Philip Faranda were honored by the National Association of Real Estate Editors at their annual event.June 9, 2023
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- Butterflies, the “Easy Bus” and a plan for tough timesHomeServices of America CEO Gino Blefari knows what agents are facing — and what they’re capable of. His advice? Keep going. Winning is possible.May 16, 2023
- A tough first quarter for top Canadian brokerage companyBridgemarq Real Estate Services reported a net loss of $4.7 million, attributing the drop to the housing market downturn.May 11, 2023
- NAR move will increase 2024 dues by 4%NAR has approved a proposal that would increase dues based on the inflation rate. This will raise 2024 dues to $156 (from $150).Updated May 11, 2023
- CTO gets Real about new AI tools, and risksChatGPT is not hard to add to your site. The challenge comes in doing it the right way, so you don’t hurt your brand with “hallucinations.”May 5, 2023
- Anywhere on track with cuts but still loses $138 millionThe company missed analyst expectations by $0.48 per share but achieved cost savings of $50 million while legal headwinds put pressure on the bottom line.May 3, 2023
- Bright MLS CTO Frank Major has diedFrank Major is remembered as a “smart and kind” leader who served on the board of RESO and Byte Back, an organization working to close the digital divide.May 3, 2023
- Shark Tank star’s advice for 'fellow sharks' in real estateDaymond John knocked on the right door to grow the FUBU brand and his own career, with a lot of hustle and a little help from LL Cool J.May 2, 2023
- Sherry Chris steps down as leader of BHGRE and ERASherry Chris, president and CEO of the Anywhere Expansion Brands portfolio, is retiring from brand leadership and will transition to an advisory role.April 27, 2023
- Nation’s largest homebuilder brings some heat to a cool springDR Horton, seen as a “heat check” for the housing industry, blew past analyst expectations with its fiscal Q2 profits and offered an encouraging take on spring.April 20, 2023
- Opendoor cuts 22% of its employeesThe industry’s leading iBuyer continues its struggle against housing industry headwinds, cutting about 560 employees, mostly in operations.April 18, 2023
- Lawsuit could shake the landscape for buyer’s agentsWith billions of dollars at stake, a judge’s ruling this week poses challenges to the residential real estate commission system.April 1, 2023
- Commissions lawsuit now a class action, greatly increasing its scopeA judge ruled that the Moehrl suit would now cover all sellers who paid commissions to named companies over a 5-year period, plus “current and future” sellers.Updated September 22, 2023
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- Uncertainty post-SVB could create opportunity for homebuyersBank failures may lead the Fed to tap the brakes on raising interest rates, which means now is a good time for homebuyers to keep calm and make their move.March 14, 2023
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- Agent count up, offsetting losses for top Canadian brokerage companyBridgemarq Real Estate Services reported revenue of $49.9 million in 2022 and added more than 500 agents.March 9, 2023
- News Corp CEO commits to growing Realtor.comAs the company doubles down on the real estate portal, CEO Robert Thomson said News Corp remains “open and opportunistic.”March 7, 2023
- T3 Tech Summit: How technology can simplify real estate transactionsSpeakers and vendors at the inaugural event focused on tech solutions that add value for real estate professionals.November 2, 2022
- AI expert: Artificial intelligence is 'taking over' — and that's OKRoboticist Ayanna Howard spoke about the present and future of AI across industries at the T3 Technology Summit.October 31, 2022
